Point72 Hong Kong Ltd Has $301,000 Stake in Chemed Co. (NYSE:CHE)
Point72 Hong Kong Ltd increased its position in shares of Chemed Co. (NYSE:CHE) by 119.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 686 shares of the company’s stock after buying an additional 373 shares during the period. Point72 Hong Kong Ltd’s holdings in Chemed were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of CHE. FMR LLC increased its holdings in Chemed by 18.8% during the fourth quarter. FMR LLC now owns 452,389 shares of the company’s stock worth $198,716,000 after buying an additional 71,736 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Chemed by 99.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 123,361 shares of the company’s stock valued at $54,188,000 after purchasing an additional 61,361 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Chemed by 63.5% in the fourth quarter. Teacher Retirement System of Texas now owns 131,350 shares of the company’s stock valued at $57,697,000 after purchasing an additional 51,000 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Chemed in the fourth quarter valued at $16,831,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Chemed in the fourth quarter valued at $15,215,000. Institutional investors and hedge funds own 90.10% of the company’s stock.
In related news, Director Andrea R. Lindell sold 2,120 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $480.06, for a total transaction of $1,017,727.20. Following the completion of the sale, the director now owns 5,377 shares of the company’s stock, valued at $2,581,282.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank E. Wood sold 1,200 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $445.17, for a total transaction of $534,204.00. Following the sale, the director now directly owns 1,457 shares of the company’s stock, valued at approximately $648,612.69. The disclosure for this sale can be found here. Insiders own 3.96% of the company’s stock.
Chemed (NYSE:CHE) last announced its earnings results on Tuesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.09 by $0.13. The company had revenue of $522.30 million during the quarter, compared to analysts’ expectations of $524.20 million. Chemed had a net margin of 11.35% and a return on equity of 35.38%. Chemed’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.35 earnings per share. Equities analysts predict that Chemed Co. will post 16.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 2nd were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.34%. Chemed’s payout ratio is presently 9.18%.
Several research firms have commented on CHE. ValuEngine upgraded shares of Chemed from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Oppenheimer boosted their target price on shares of Chemed from $525.00 to $535.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada raised shares of Chemed from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $448.00 to $535.00 in a research report on Tuesday, March 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Chemed currently has an average rating of “Buy” and an average price target of $515.00.
Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.
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